In the year to
The company became the latest housebuilder to cite recovery in the
The recovery has reached a level this year that has given the Bank of
However, Barratt said it supports the measures and believes they "will provide greater stability for the market, without significantly reducing the ability of customers to secure mortgage finance."
Barratt said it ramped up house building in response to an uplift in consumer demand. Total completions including joint ventures increased 8.6% to 14,838 compared with 13,663 a year earlier. Private completions rose 8.7% to 11,936 from 10,978, while affordable completions rose to 2,255 from 2,268. Joint venture completions in which the group had an interest increased to 647 from 417 a year earlier.
Sales rates increased to 0.69 net private reservations per active site per week in the recent year, compared with 0.58 reservations a year earlier. The sales rate in the second-half was 0.71 net private reservations per active site per week, compared with 0.66 reservations a year ago.
"The majority of this increase continues to be driven by changes in mix but underlying sales prices have also strengthened throughout the year," the company said.
In addition, the private average selling price for the full-year increased 13% to around
During the year, the company said it strengthened its forward order book with total forward sales, excluding joint ventures, up to
The company also said it continues to secure land opportunities across all regions. Its landbank now totals 21,478 plots compared with 18,536 plots a year earlier. Barratt said the transformation of its land from older low margin land to more recently acquired high margin land is nearly complete. At
Barratt said it remains focused on driving return on capital employed and for the full-year 2014 it expects this to exceed its target of 18%, some two years ahead of schedule. In the full-year to
Looking ahead, the company said it expects strong demand for new homes to continue and it hopes to open around 180 sites in the year to
Barratt said it will announce its full-year results on
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